| Author (Corporate) | European Commission |
|---|---|
| Series Title | COM |
| Series Details | (2012) 35 final (8.2.12) |
| Publication Date | 08/02/2012 |
| Content Type | Policy-making |
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Foundations play an important role in the EU, particularly in civil society. Through their various activities in numerous areas, they contribute to the fundamental values and objectives of the Union, such as respect for human rights, the protection of minorities, employment and social progress, protection and improvement of the environment or the promotion of scientific and technological advances. In this context, they make a substantial contribution to achieving the ambitious goals of smart, sustainable and inclusive growth set by the Europe 2020 strategy. They also enhance and facilitate a more active involvement of citizens and civil society in the European project. Nonetheless, the exercise of their activities encounters various obstacles across the EU. Foundations cannot channel funds efficiently on a cross-border basis in the EU. When they decide to operate across borders, foundations have to spend part of the resources they collect on legal advice and fulfilling legal and administrative requirements laid down by the different national laws. The present initiative creates a new European legal form intended to facilitate foundations' establishment and operation in the single market. It will allow foundations to more efficiently channel private funds to public benefit purposes on a cross-border basis in the EU. This, in turn, should result – for instance, due to lower costs for foundations – in more funding being available for public benefit purpose activities and therefore, should have a positive impact on European citizens' public good and the EU economy as a whole. |
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| Source Link | Link to Main Source http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=COM:2012:0035:FIN:EN:PDF |
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| Subject Categories | Law |
| Countries / Regions | Europe |
